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Exam 28: Unemployment and Its Natural Rate

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Question 251

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Recent entrants into the labor force account for about

A) 1/5 of those who are unemployed.
B) 1/4 of those who are unemployed.
C) 1/3 of those who are unemployed.
D) 1/2 of those who are unemployed.

E) B) and C)
F) A) and D)

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Question 252

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Most U.S. workers have wages well above the legal minimum, so minimum-wage laws do not prevent the wage from adjusting to balance supply and demand.

A) True
B) False

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Question 253

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Since the 1940's U.S. union membership has

Economists have found that union workers earn about 30 to 40 percent more than similar workers who do not belong to unions.

All else equal, which of the following would increase the unemployment rate? (i) an increase in the number of women who return to work after being stay-at-home mothers (ii) a preference among older men to retire early (iii) an increase in the maximum number of weeks for which someone can receive government unemployment benefits (iv) an increase in the number of previously unemployed women who stop looking for work and become discouraged workers

Frictional unemployment is often thought to explain relatively short spells of unemployment.

Table 28-5 Labor Force Statistics by Age Suppose people in the adult population in a small country are classified based on their age. -Refer to Table 28-5. Suppose that the natural rate of unemployment is 5% for those under 55 and 3% for those 55 and older. The cyclical unemployment rate for those under 55 is

Sectoral shifts contribute to structural unemployment.

Table 28-4 2010 Labor Data for Adults (ages 16 and older) in Meditor -Refer to Table 28-4. What is the adult female unemployment rate in Meditor?

More than three-fourths of the unemployed are recent entrants into the labor force.

Causes of the changing role of women in American society over the past several decades include new technologies that have reduced the amount of time required to complete routine household tasks, improved birth control, and changing political and social attitudes.

The adult population in the town of Shelbyville is 150 thousand. If 100 thousand people are employed and 20 thousand are unemployed, then the labor force participation rate is approximately

The BLS reports the U-6 measure of labor underutilization. Which of the following is how it computes U-6?

Sectoral shifts temporarily cause unemployment.

It is only among the least skilled and least experienced members of the labor force that minimum-wage laws cause unemployment.

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. How many people were employed in Baltivia in 2009?

In the U.S., the National Labor Relations Board is the government agency that enforces workers' right to unionize.

Table 28-9 The table below lists the number of people by labor force classification for the country of Shelbyville. -Refer to Table 28-9. What is the labor force participation rate?

Which of the following is an example of an efficiency wage?

Wanda quit her job because she was unhappy at work. Arnold was fired from his landscaping job because his company was downsizing. Who is eligible for unemployment insurance benefits?